Your interest rate is the percentage of the loan principal a lender charges a borrower for the loan. Finance charges are a broader measure of the cost of borrowing that includes both interest and any applicable fees. Annual percentage rate, or APR, expresses the finance charges of a loan as a yearly rate. Finance charges are based on a borrower’s creditworthiness.
A borrower’s creditworthiness is determined by several factors, including credit and payment history, income, employment, existing debt, and types of debt. You can reduce the total cost of your loan by paying your loan off early, before your last due date on your payment schedule, or by making additional payments on or between your payment due dates.
A copy of your loan details, finance charges, APR, and payment schedule will be fully disclosed to you in your loan agreement once you are approved for a loan. Please contact our team today to see if you qualify for a loan with us.
APR (Annual Percentage Rate) is the annual rate charged for borrowing money, expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. APR was designed to allow consumers the ability to evaluate a loan product over the course of a full year or 365 days, but we offer small installment loans that are designed to be paid between 4 to 6 months (term of the loan may vary). Your actual APR may vary for a number of reasons. Remember, this is an expensive form of borrowing and is not intended to be a long-term financial solution. We encourage customers to pay off their loans as soon as possible.
Your loan agreement has specific details regarding payment amounts, payment dates, rates (APR), and specific fee information. Your loan agreement is available for review and download at any time during the life of your loan by logging in to your account here.
Re-payment terms: 3 months (min 84 days / max 90 days)
12 weekly payments
6 bi-weekly payments
6 semi-monthly payments
Maximum Loan Amount: $1500
Minimum Loan Amount: $200
APR: 36%
The chart below represents an illustrative example of the cost and payment schedule of a $720 personal loan at 32% APR.
Installment Loans: Bi-Weekly Customer = Six (6) Payments
| Annual Percentage Rate | Finance Charge | Amount Financed | Total of Payments |
|---|---|---|---|
| The cost of your credit as a yearly rate | The dollar amount the credit will cost you | The amount of credit provided to you on your behalf | The amount you will have paid after you have made all payments as scheduled |
| 32% | $58.54 | $720.00 | $778.54 |
Payment Schedule Based on November 11th, 2024 Loan Origination Date
| Payment Number | Amount of Payments | When Payments Are Due |
|---|---|---|
| 1 | $129.76 | 12/04/2024 |
| 2 | $129.76 | 12/18/2024 |
| 3 | $129.76 | 01/01/2025 |
| 4 | $129.76 | 01/15/2025 |
| 5 | $129.75 | 01/29/2025 |
| 6 | $129.75 | 02/12/2025 |
** Disclaimer: This Consumer Installment Loan Rate Schedule provides an illustrative example of a typical extension of credit we offer to qualified applicants. The APRs noted above are for a $720 loan repayable in six bi-weekly payments. The terms listed in this Consumer Installment Loan Rate Schedule may be offered for only a limited period of time and may differ from your loan agreement. Rates are subject to change. The rates displayed do not represent a loan approval or commitment to lend. The actual principal, APR, fees, costs and payments on your specific loan transaction may vary and may include additional fees and costs. You should always seek competent professional advice prior to engaging in any financial transaction.